Directors' Deals: Crozier shows good timing

The former chief executive of Royal Mail, who now holds the same position at ITV, has sold off about half his shareholding in the broadcaster

Crozier's appointment at ITV ended a long search for a successor to Michael Grade (Richard Pohle)
Adam Crozier, the former chief executive of the Football Association and Royal
Mail, who now holds the same position at ITV, has sold off about half his
shareholding in the terrestrial broadcaster.

Crozier, who joined ITV on April 26 on a base salary of £775,000 plus pension
and “other typical benefits”, was awarded 397,272 in restricted shares as
part of a “golden hello”. They are to be dispensed over 18 months in three
tranches and last week he took possession of the first tranche of 198,636.

Crozier, who also received £200,000 in cash on taking up the role at ITV,
promptly sold a sufficient number of the first tranche of shares at 67.29p
each to satisfy income tax, National Insurance liabilities and associated
costs. The sale still leaves him with 97,126 shares, representing just
0.002% of ITV’s issued ordinary share capital.